Published on: Dec 17, 2012 by Aparna Dutt Sharma, Chief Executive Officer, IBEF

India is often called the outsourcing hub of the world. Clearly, the availability of cost-efficient skills and huge potential for growth has transformed India as a preferred destination for outsourcing. Driven by increased focus on cost efficiencies, customer centricity and a supportive ecosystem, India’s market share in the IT outsourcing industry has moved up from 55 per cent in 2010 to 58 per cent in 2011. As per market estimates, the total global and domestic outsourcing market opportunity for India is expected to grow three-folds from US$ 500 billion in 2008 to US$ 1.5 trillion by 2020. In fact, by the end of this decade, the Brazil, Russia, India and China (BRIC) countries are expected to build a collective domestic outsourcing market of US$ 380 billion to US$ 420 billion.